Montanaro Asset Management Ltd Has $10.72 Million Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Key Points

• Montanaro Asset Management Ltd reduced its stake in Manhattan Associates by 19.5% in the first quarter, now holding approximately 0.10% of the company, valued at $10.72 million.
• Wall Street analysts have mixed opinions on Manhattan Associates, with a consensus rating of "Hold" and an average target price of $216.67.
• Manhattan Associates reported earnings per share of $1.31 for the last quarter, surpassing analysts' expectations and reflecting a 2.7% increase in revenue year-over-year.

Montanaro Asset Management Ltd trimmed its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 19.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,920 shares of the software maker's stock after selling 15,020 shares during the quarter. Manhattan Associates comprises 3.1% of Montanaro Asset Management Ltd's portfolio, making the stock its 13th largest holding. Montanaro Asset Management Ltd owned about 0.10% of Manhattan Associates worth $10,715,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MANH. Central Pacific Bank Trust Division grew its holdings in Manhattan Associates by 107.3% in the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock worth $34,000 after buying an additional 103 shares in the last quarter. Park Square Financial Group LLC acquired a new position in shares of Manhattan Associates during the 4th quarter valued at $38,000. Transce3nd LLC acquired a new position in shares of Manhattan Associates during the 4th quarter valued at $41,000. Reyes Financial Architecture Inc. increased its position in shares of Manhattan Associates by 42.5% during the 1st quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock valued at $82,000 after purchasing an additional 142 shares during the period. Finally, Bayforest Capital Ltd increased its position in shares of Manhattan Associates by 126.6% during the 1st quarter. Bayforest Capital Ltd now owns 494 shares of the software maker's stock valued at $85,000 after purchasing an additional 276 shares during the period. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH traded down $4.99 on Thursday, reaching $215.20. 679,099 shares of the company traded hands, compared to its average volume of 681,621. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60. The company's 50 day moving average is $203.07 and its 200-day moving average is $188.07. The stock has a market capitalization of $13.01 billion, a PE ratio of 60.11 and a beta of 1.10.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.19. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%. The company had revenue of $272.42 million during the quarter, compared to the consensus estimate of $263.62 million. During the same quarter in the prior year, the firm earned $1.18 EPS. The company's quarterly revenue was up 2.7% compared to the same quarter last year. As a group, analysts expect that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 2,300 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $220.33, for a total transaction of $506,759.00. Following the sale, the executive vice president directly owned 48,660 shares of the company's stock, valued at $10,721,257.80. The trade was a 4.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Eddie Capel sold 37,342 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $222.18, for a total transaction of $8,296,645.56. Following the sale, the chairman directly owned 162,988 shares in the company, valued at approximately $36,212,673.84. This trade represents a 18.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,666 shares of company stock valued at $9,251,781 in the last three months. 0.88% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MANH has been the topic of several research analyst reports. Citigroup reiterated a "neutral" rating and set a $200.00 price target (up from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Raymond James Financial lifted their price target on Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Loop Capital lifted their price target on Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a research report on Tuesday, July 22nd. Morgan Stanley initiated coverage on Manhattan Associates in a research report on Monday, July 14th. They set an "underweight" rating and a $190.00 price target on the stock. Finally, DA Davidson lifted their price target on Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $216.67.

Manhattan Associates Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.